Globalstar, Inc. (NYSE:GSAT) Director Acquires $1,000,000.00 in Stock

Globalstar, Inc. (NYSE:GSAT) Director James Monroe III purchased 500,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were purchased at an average price of $2.00 per share, with a total value of $1,000,000.00. Following the completion of the purchase, the director now directly owns 8,834,090 shares of the company’s stock, valued at $17,668,180. The trade was a 6.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

James Monroe III also recently made the following trade(s):

• On Monday, December 16th, James Monroe III bought 500,000 shares of Globalstar stock. The shares were purchased at an average price of $1.96 per share, with a total value of $980,000.00.
• On Friday, December 13th, James Monroe III purchased 530,000 shares of Globalstar stock. The stock was acquired at an average price of $1.90 per share, for a total transaction of $1,007,000.00.

Globalstar Trading Up 3.7 %

Shares of NYSE GSAT opened at $1.95 on Friday. The firm has a fifty day moving average of $1.95. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.91. Globalstar, Inc. has a 12-month low of $1.00 and a 12-month high of $2.74. The firm has a market cap of $3.69 billion, a P/E ratio of -65.00 and a beta of 1.10.

Institutional Investors Weigh In On Globalstar

Large investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd acquired a new position in Globalstar during the 3rd quarter worth approximately $56,000. Sender Co & Partners Inc. purchased a new stake in shares of Globalstar during the third quarter valued at approximately $106,000. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Globalstar by 1,000.5% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 129,644 shares of the company’s stock worth $161,000 after purchasing an additional 117,864 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Globalstar by 26.4% in the third quarter. BNP Paribas Financial Markets now owns 328,298 shares of the company’s stock valued at $407,000 after purchasing an additional 68,599 shares during the period. Finally, XTX Topco Ltd grew its holdings in Globalstar by 3,472.7% during the 3rd quarter. XTX Topco Ltd now owns 976,353 shares of the company’s stock valued at $1,211,000 after purchasing an additional 949,025 shares in the last quarter. Institutional investors and hedge funds own 18.89% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Globalstar from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.

Globalstar Company Profile

GLOBALSTAR INC offers satellite voice and data services to commercial and recreational users in more than 120 countries around the world. Globalstar’s products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service.